US Pre Market Open: China Trade News Cheers Wall Street Ahead of Opening Bell

Market Analysis /
12 Apr 2019

Better than expected export data released from China this morning seems to be lending some support to index futures, with Wall Street eyeing fresh gains at the opening bell. There are however some key earnings releases due today, with both JP Morgan and Wells Fargo due to report before the opening bell. Expectations have been set for a rather downbeat earnings season, although Delta Airlines impressed on Wednesday so if the theme of positivity can be maintained then there’s still the potential for the equity market rally to continue.

Economic data is relatively low key for the day ahead, although the University of Michigan Sentiment reading will attract some scrutiny shortly after the opening bell. There’s some criticism that the Federal Reserve is now adopting too dovish a stance towards monetary policy, with an upbeat print here being likely to reinforce such an opinion. However, with pressure from the White House building for rate cuts and Donald Trump steadily filling the FOMC board with his appointees, it’s increasingly difficult to see where aggressive policy tightening will come from.

Ahead of the open the market's calling the DOW up 105 at 26248 and the S&P up 7 at 2895.

 

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